FTC Clears Bristol-Myers' $74B Celgene Buy With Drug Sale

By Hailey Konnath (November 15, 2019, 10:05 PM EST) -- The Federal Trade Commission has accepted Bristol-Myers Squibb Co.'s plan to divest one of Celgene Corp.'s most lucrative drugs, giving the pharmaceutical companies the green light to proceed with their $74 billion merger, the commission said Friday.

The companies agreed to offload Celgene's anti-inflammatory drug Otezla — a rising star in the market for psoriasis treatments — for $13.4 billion, making it the largest proposed divestiture the FTC or the U.S. Department of Justice has ever required in a merger, the commission said in a statement.

The companies now expect to close on the transaction Nov. 20, Bristol-Myers said Friday....

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!